London-listed Beazley saw its shares climb almost 15 percent over last week’s five day trading period to lead a widespread green week for The Insurer’s universe of European-listed carriers.
Shares in Axa Group climbed over 5 percent in morning trading to lead a jump in European (re)insurance stocks on Wednesday which extended gains made yesterday as investors focused on the phased reopening of the economy.
Lloyd’s of London has received approval from the High Court of England and Wales for its Part VII strategy for notifying policyholders about the proposed transfer of its existing European business to Lloyd’s Brussels.
Irish insurer FBD said it will wait for the result of a test case in October before it decides whether to pay out on 700 claims for business interruption made against it in connection with the pandemic.
As European countries examine creating their own future pandemic reinsurance solutions, the continent’s Federation of European Risk Management Associations (Ferma) has called on the European Commission to create a EU-wide resilience framework for catastrophic risks such as epidemics, terrorism and cyber.
Willis Towers Watson is selling its Swedish financial advisor, Max Matthiessen, to private equity firm Nordic Capital for an undisclosed sum.
US equity futures slipped ahead of the open on Friday as investors faced an escalation in tensions between the US and China.
Investment bank Jefferies has warned that the lack of retrocessional cover in Hannover Re’s credit and surety book may prompt earnings downgrades in the second quarter as Covid-19 exposures bite despite the German carrier standing apart as “relative safe haven” during the equity market turmoil.
Covéa has had its ratings removed from under review with developing implications by AM Best following the collapse of the French mutual’s planned acquisition of the Exor-owned PartnerRe.
Allianz Group has appointed Catharina Richter as global head of its cyber center of Competence (CoC), succeeding Emy Donovan who had left the firm last year.
NN Group subsidiary NN Life has completed three longevity reinsurance transactions with reinsurers Canada Life, Munich Re, and Swiss Re, transferring the full longevity risk associated with Eur13.5bn ($14.8bn) of pension liabilities in the Netherlands.
Allianz chief executive Oliver Bäte has proposed the idea of a risk-pooling insurance scheme to cover business interruption (BI) losses from a future pandemic event, The Insurer has learned.
US equity futures slipped ahead of the open on Tuesday following big gains on Wall Street a day earlier while European (re)insurance stocks retreated in morning trading as investors assessed hopes for a rebound in economic activity in the coming months.
In what proved to be another volatile week for European P&C stocks, shares in London-listed Beazley shed over 15 percent of its value over the five day trading period to lead a renewed sell-off across The Insurer’s universe of European-listed carriers.
Allianz has named John Berry as chief risk officer for Allianz Holdings and Allianz Insurance.
European (re)insurance stocks made a modest recovery in early trading after a sharp drop on Thursday with investors buoyed by Chinese growth data and renewed optimism over the easing of lockdowns across the continent.
Shares in London-listed Hiscox closed almost 6 percent lower on Thursday to lead a renewed sell-off among European (re)insurance stocks as investors responded to rising US jobless totals and further uncertainty over the coronavirus impact on the global economy.
US equity futures edged lower and European stocks declined on Thursday as investors awaited the latest American jobless data after another steep sell-off on Wall Street.
Swiss powerhouse insurer Zurich has reported a jump in P&C gross written premiums of 7 percent to $9.68bn in the first quarter, with the division also booking $280mn of current claims related to the ongoing Covid-19 pandemic.
US equity futures edged higher ahead of the open on Wednesday as investors awaited key comments on interest rate policy from Federal Reserve chairman Jerome Powell.